Katoro Gold plc has increased the footprint from 880 hectares to 1,475 hectares of the Pearl lithium project held by its recent proposed acquisition, 31 Explore Ltd.
COLLABORATION
A total 72 claims, added to the original 43, are contiguous to the Ontario project, expanding westwards to encompass recently interpreted geological features prospective for mineralisation.
Chief executive Patrick Cullen: “The claim package expansion at Pearl is the result of the ongoing technical and strategic collaboration between Katoro and 31 Explore.
“The heads of terms of agreement between the parties remains unchanged and there will be no impact on the previously announced consideration.
“31 Explore have completed this staking in consultation with Katoro to maximise the exploration opportunity at Pearl rather than wait and risk these claims being staked by others.”
Acquisition of 31 Explore is subject to shareholder approval at Katoro’s general meeting on 28 February.